Altavista Successfully Completes A $2,700,000 Financing.BOUCHERVILLE, Quebec And Toronto, Ontario--(BUSINESS WIRE)--May 24, 1996--ALTAVISTA INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. .(ME: AIA AIA - Application Integration Architecture ) Altavista Mines Inc. is pleased to announce that it has successfully completed a public financing of $2,700,000. Tasse and Associates acted as agent on the offering, which consisted of 2,700 units of Altavista Mines priced at $1,000 per unit. Each unit consisted of 1,000 common flow-through shares and 250 common shares priced at $0.80 per share. A total of 3,375,000 common shares will be issued under the offering, bringing the total number of issued and outstanding shares to 8,562,505. Altavista's activities are mainly centred on exploring mining properties with the purpose of putting them into commercial production. The company currently owns the following interests: - The company owns the Montbray property, consisting of 12 claims totalling 480 hectares in Montbray Township township: see town. , Northwestern Quebec. - The company owns the Lost Bay property, consisting of 26 claims totalling 1,040 hectares in Montbray Township, Northwestern Quebec. - The company has an option to acquire a 90 percent undivided interest undivided interest n. title to real property held by two or more persons without specifying the interests of each party by percentage or description of a portion of the real estate. in the Santa Anna property, comprising 47 claims totalling 1,880 hectares in La Reine Township, Northwestern Quebec. - The company has an option to acquire a 50 percent undivided interest in 201 claims covering 3,216 hectares in the vicinity of Lake Quenonisca and Lake Salamandre, 140 km north of Matagami. Altavista will apply the proceeds of the offering to exploration in the maximum amount of $2,160,000 including $1,240,000 on the Santa Anna property, $350,000 on the Montbray property, $367,500 on the Lost Bay property and $202,500 on the Quenonisca property. Work on the Santa Anna property will follow up on bulk sampling and 4,600 meters (15,390 feet) of drilling completed in 1995 and early 1996. This work established that the gold-bearing structures extend over a distance of more than 750 meters, contain economic values and remain open laterally and at depth. Exploration work on the Santa Anna property will consist mainly of 11,425 meters (37,500 feet) of drilling and will commence June 3, 1996. The drilling program should be followed by a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. in October 1996. Work on the Montbray and Santa Anna gold property will consist mainly of geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. and geological surveys The term geological survey can be used to describe both the conduct of a survey for geological purposes and an institution holding geological information. A geological survey , stripping and exploration drilling. Work will begin in June 1996. Work on the Quenonisca property will be conducted by SOQUEM, and consists mainly of geological, geochemical and geophysical surveys Geophysical survey refers to the systematic collection of geophysical data for spatial studies. Geophysical surveys may use a great variety of sensing instruments, and data may be collected from above or below the Earth's surface or from aerial or marine platforms. . Work will begin in June 1996, SOQUEM will contribute $127,500 to exploration on the property, and Altavista's share will amount to $202,500. CONTACT: Altavista Mines Inc. Roger Desloges, 416/368-5115 416/925-7881 (Fax) Guy Hebert Guy Andre Hebert (born January 7, 1967 in Troy, New York) is a former professional ice hockey goaltender. Always a proud American, he used the French pronunciation of his first and last names because it "sounded better." He played for the St. , 514/641-0775 514/641-1601 (Fax) |
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